First Eagle Investment Management LLC Buys 22,000 Shares of PBF Energy Inc. $PBF

First Eagle Investment Management LLC grew its stake in PBF Energy Inc. (NYSE:PBF) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,417 shares of the oil and gas company’s stock after buying an additional 22,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in PBF Energy were worth $10,996,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after acquiring an additional 3,612,447 shares during the period. Bank of New York Mellon Corp raised its stake in PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after acquiring an additional 260,464 shares during the period. American Century Companies Inc. lifted its holdings in PBF Energy by 1.7% during the first quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after purchasing an additional 32,285 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PBF Energy by 12.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock worth $31,981,000 after purchasing an additional 182,456 shares during the period. Finally, Northern Trust Corp increased its stake in shares of PBF Energy by 0.8% in the first quarter. Northern Trust Corp now owns 1,390,455 shares of the oil and gas company’s stock worth $26,544,000 after purchasing an additional 11,499 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PBF. UBS Group lifted their target price on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank raised their price target on PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Morgan Stanley set a $27.00 price objective on PBF Energy and gave the stock an “underweight” rating in a research note on Friday, October 3rd. TD Cowen increased their target price on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Friday, October 31st. Finally, Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $27.83.

PBF Energy Trading Up 0.0%

PBF stock opened at $36.84 on Friday. The firm has a fifty day moving average price of $30.82 and a 200 day moving average price of $25.08. PBF Energy Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $38.58. The firm has a market cap of $4.26 billion, a PE ratio of -7.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 1.38.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.47 billion. During the same quarter last year, the business earned ($1.50) earnings per share. PBF Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. Sell-side analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.0%. PBF Energy’s dividend payout ratio (DPR) is presently -23.66%.

Insider Buying and Selling

In related news, Director Thomas J. Nimbley sold 250,000 shares of PBF Energy stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.51, for a total value of $8,627,500.00. Following the completion of the transaction, the director owned 790,716 shares in the company, valued at approximately $27,287,609.16. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Steven John Andriola sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.39, for a total value of $36,040.72. Following the sale, the chief accounting officer directly owned 20,974 shares in the company, valued at $721,295.86. The trade was a 4.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 381,048 shares of company stock worth $13,212,041. Insiders own 5.30% of the company’s stock.

PBF Energy Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.